KFH Malaysia the Islamic banking provider are set to increase its number of branches by June 2011 as they currently have eight branches and are looking to open up two more new branches to cater for the demands of a growing need for Shariah compliant products and services.
The two new branches will be located in the Kota Kinabalu (Sabah) and Batu Pahat (Johor) districts of Malaysia. Malaysia is an unprecedented hub for Islamic finance and Banking and has created an abundant wealth of opportunities for both investers and professionals wishing to tap into the Shariah compliant market.
As Malaysia has a predominent Muslim population it is attracting customers from all over the country and the success is paramount to its hard work from institutions such as KFH Malaysia.
Microfinance is gradually becominga growing sector for the Islamic finance industry and KFH has acknowledged the need for Micro financialShariah compliant services in the country and are hoping to deliver to the demands of customers in the country.
KFH Malaysia Chief Executive Officer Jamelah Jamaluddin said in a statement that, "The bank would also be delving into the microfinance business next month,after KFH dona- ted RM1 million to Yayasan Sejahtera, a foundation set up in 2009 to champion a sustainable approach to eradicate hardcore poverty".
Article from Global Islamic Finance Magazine
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